Market Updates 28/05/2018

ASX is set for a lower start to Monday’s trading session with SPI down 30 points to 6007 on the back of a mixed results in US on Friday.

The Dow Jones down 0.2%, S & P down 0.2% while Nasdaq was up by 0.1%. ASX appears to be heading towards a month end close below 6000 points wiping out earlier month’s gains above 6100 points.

AUDUSD traded stronger earlier last week and has maintained it by trading around US $0.7555 cent. Good news for motorist is that Oil lost 3% so hopefully we will see this pass on at the petrol stations shortly.

Global investors will again be looking for further directions with the all important Non-Farm Payroll & Unemployment numbers due out this Friday in US. The Market is tipping for the US to have created 190,000 jobs with unemployment rate remaining steady at 3.9%.

DATA RELEASES THIS WEEK:

Tuesday:

JPY – Unemployment Rate

Wednesday:

USD – CB Consumer Confidence,  ADP Non-Farm Employment Change & Prelim GDP q/q

NDZ – RBNZ Financial Stability Report & RBNZ Gov Orr Speaks

JPY – BOJ Gov Kuroda Speaks

Thursday:

CAD – BOC Rate Statement & Overnight Rate

CHF – SNB Chairman Jordan Speaks

NZD – ANZ Business Confidence

AUD – Private Capital Expenditure q/q

Friday:

USD – Crude Oil Inventories, Average Hourly Earnings m/m, Non-Farm Employment Change , Unemployment Rate & ISM Manufacturing PMI

GBP – Manufacturing PMI

 

Andrew Law

General Manager

D: 61 2 9993 0795

M: 0411 625 998

Posted in Foreign Exchange News.